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Property price in Alwarthirunagar, Valasaravakkam

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Property price in Alwarthirunagar, Valasaravakkam

Last updated: July 6 2011
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  • #11

    #11

    Re : Property price in Alwarthirunagar, Valasaravakkam

    Originally posted by ks2071746 View Post
    There can be a few reasons for the prices not coming down appreciably:

    01) The land has been bought at high prices.
    02) Locality advantage
    03) The promoter financially strong enough to hold on for the time being or for a few more months.
    04) Supply vs demand in the respective areas.
    05) In some areas, the leading builder in the area taking the lead to see that the prices by any builder is not reduced appreciably. One such area is Tambaram east where, of course a good and quality builder R.......... B..... is not only holding on to the prices with peanut reductions, but making other promoters in the locality also to hold on to the prices.
    06) The reducing interest rates also may contribute to this as the enquiries may be more than before now.

    ks2071746
    Thanks for the information.

    1. Why should the customers pay high prices just because the greedy promoters had bought the land for high prices. Guys please dont pay the prices for promoters mistake.

    2 . Places in south Madras has locality advantage to OMR IT and Sriperumpattur Manufacturing Zones but they lack infrastructure . Not sure it will be developed in the near future .

    3. Developers cant not sustain for longer time ...Sure that promoters have amassed good fortunes in yesteryears ...Overgrowth has tempted them and they have taken bigger steps/projects on high leverage and now they have to have regular cash flow to meet atleast the interest portion ... Continued non-performance can result in grave danger...

    4. Interest Rates : These foolish promoters/builders dont understand the reality ..The issue is the unrealistic prices charged by promoters .... not the interest rate ....Govt will hike/reduce it due to overall economic conditions.... People will easily understand this ... But some uneducated promoters will never understand ...

    When the entire world has endorsed the slowdown ... still people in India dont accept it ... RE is down worldwide and all other states in India have accepted ....But Chennai ..hahahaha ..they are still in Denial phase ....

    We have to retreat with same formula ...Denial ...

    Pls deny to buy at unrealistic prices ...

    Comment

    • #12

      #12

      Re : Property price in Alwarthirunagar, Valasaravakkam

      Originally posted by ks2071746 View Post
      There can be a few reasons for the prices not coming down appreciably:

      01) The land has been bought at high prices.
      02) Locality advantage
      03) The promoter financially strong enough to hold on for the time being or for a few more months.
      04) Supply vs demand in the respective areas.
      05) In some areas, the leading builder in the area taking the lead to see that the prices by any builder is not reduced appreciably. One such area is Tambaram east where, of course a good and quality builder R.......... B..... is not only holding on to the prices with peanut reductions, but making other promoters in the locality also to hold on to the prices.
      06) The reducing interest rates also may contribute to this as the enquiries may be more than before now.

      ks2071746
      KS , Thanks for the information.

      1. Why should the customers pay high prices just because the greedy promoters had bought the land for high prices. Guys please dont pay the prices for promoters mistake.

      2 . Places in south Madras has locality advantage to OMR IT and Sriperumpattur Manufacturing Zones but they lack infrastructure . Not sure it will be developed in the near future .

      3. Developers cant not sustain for longer time ...Sure that promoters have amassed good fortunes in yesteryears ...Overgrowth has tempted them and they have taken bigger steps/projects on high leverage and now they have to have regular cash flow to meet atleast the interest portion ... Continued non-performance can result in grave danger...

      4. Interest Rates : These foolish promoters/builders dont understand the reality ..The issue is the unrealistic prices charged by promoters .... not the interest rate ....Govt will hike/reduce it due to overall economic conditions.... People will easily understand this ... But some uneducated promoters will never understand ...

      When the entire world has endorsed the slowdown ... still people in India dont accept it ... RE is down worldwide and all other cities in India have accepted ....But Chennai .... they are still in Denial phase ....

      We have to retreat with same formula ...Denial ...

      Pls deny to buy land/apartment at unrealistic prices ... More EMI default houses/apartments will be on sale in the coming days * throw away prices ......

      BTW ..who is that 'good and quality' builder in Tambaram ? Good and quality builders in India ?
      Last edited January 24 2009, 01:20 PM.

      Comment

      • #13

        #13

        Re : Property price in Alwarthirunagar, Valasaravakkam

        the rate of the flat depends on the cost of land.most of the builders will change their prices according to the land prices.why would builder A hold on to say X/sq ft when land value has decreased and builder B (competitor) can purchase land and quote less than X sq. ft.
        we are in a dog eat dog world and no builder will follow other builders prices. he will sell at a lower price and go on to the next project.the main factor is cost of replenishment.

        Comment

        • #14

          #14

          Re : Property price in Alwarthirunagar, Valasaravakkam

          I totally agree that one of the main reason for RE in chennai not coming down is high land price. But if there are no buyers (which I assume is happening for last six months), defintely land prices should come down. But in reality this can happen only when the buying power of the customer comes down. ie a person earning >40K will still have the buying power and hence will sustain the demand...

          Comment

          • #15

            #15

            Re : Property price in Alwarthirunagar, Valasaravakkam

            Originally posted by abk View Post
            the rate of the flat depends on the cost of land.most of the builders will change their prices according to the land prices.why would builder A hold on to say X/sq ft when land value has decreased and builder B (competitor) can purchase land and quote less than X sq. ft.
            we are in a dog eat dog world and no builder will follow other builders prices. he will sell at a lower price and go on to the next project.the main factor is cost of replenishment.
            Dear abk,

            Dog eating dog does not happen in Tambaram East area, that too with this builder in the limelight. He is able to make the other builders hold on to the prices till now. How long is a question to be seen. New projects do not come up now. Exisiting projects are getting delyed very much. Under this scenario, this builder, by virtue of his fast and uninterrupted construction progress at his project sites, may be, has so much of money earned so far, may hold on for long. This builder, in any of his projects, even if some flats are not sold, progresses with the construction like any other already sold flats in the project and completes all the flats and keep with him for long periods till a buyer comes and buys at the builders' price. He is not bogged down by the so called downtrend. He holds on with peanut reductions worth not mentioning and also sells his flats. I should accept, his projects are with quality materials and contruction and no compromise made on these. In fact, I took another builder from Chennai, a close relation of mine to one of the projects at differnet stages of construction, and my relative says, the builder referred at Tambaram East, constructs the flats as though they are for his own use with good materials and quality construction.

            ks2071746

            Comment

            • #16

              #16

              Re : Property price in Alwarthirunagar, Valasaravakkam

              Originally posted by ks2071746 View Post
              Dear abk,

              Dog eating dog does not happen in Tambaram East area, that too with this builder in the limelight. He is able to make the other builders hold on to the prices till now. How long is a question to be seen. New projects do not come up now. Exisiting projects are getting delyed very much. Under this scenario, this builder, by virtue of his fast and uninterrupted construction progress at his project sites, may be, has so much of money earned so far, may hold on for long. This builder, in any of his projects, even if some flats are not sold, progresses with the construction like any other already sold flats in the project and completes all the flats and keep with him for long periods till a buyer comes and buys at the builders' price. He is not bogged down by the so called downtrend. He holds on with peanut reductions worth not mentioning and also sells his flats. I should accept, his projects are with quality materials and contruction and no compromise made on these. In fact, I took another builder from Chennai, a close relation of mine to one of the projects at differnet stages of construction, and my relative says, the builder referred at Tambaram East, constructs the flats as though they are for his own use with good materials and quality construction.

              ks2071746
              i know the builder R y but nobody is following his prices may be it is the land prices are holding so flat prices are up.many of my friends have purchased in east tambaram and i dont see any vast diff in his quality. I am telling this bcoz i visit many proj there as my friend works for a bank in home loan section and he is by qualification a diploma in civil engg.

              Comment

              • #17

                #17

                Re : Property price in Alwarthirunagar, Valasaravakkam

                Originally posted by ks2071746 View Post
                Dear abk,

                Dog eating dog does not happen in Tambaram East area, that too with this builder in the limelight. He is able to make the other builders hold on to the prices till now. How long is a question to be seen. New projects do not come up now. Exisiting projects are getting delyed very much. Under this scenario, this builder, by virtue of his fast and uninterrupted construction progress at his project sites, may be, has so much of money earned so far, may hold on for long. This builder, in any of his projects, even if some flats are not sold, progresses with the construction like any other already sold flats in the project and completes all the flats and keep with him for long periods till a buyer comes and buys at the builders' price. He is not bogged down by the so called downtrend. He holds on with peanut reductions worth not mentioning and also sells his flats. I should accept, his projects are with quality materials and contruction and no compromise made on these. In fact, I took another builder from Chennai, a close relation of mine to one of the projects at differnet stages of construction, and my relative says, the builder referred at Tambaram East, constructs the flats as though they are for his own use with good materials and quality construction.

                ks2071746
                KS, it is surprising that you are being so ILLOGICAL. Prices as you know and have even mentioned is a function of demand and supply. Unlike Sethugm who is a crazy bear who probably has 10 paise and wants a 10crore property to fall to 10p JUST FOR HIM TO BUY, I dont know why you are so Illogical.
                The truth is prices will fall if the demand drops and supply increases. In Chennai supply is controlled by strong hands. Demand has hardly dropped. Only those who wanted to buy DESPERATELY have sort of pulled off.
                Infact in Chennai and Bangalore PRICES HAVE JUST NOT FALLEN. So will it fall is a matter of conjecture.
                All I can say is whether Wiseman and his bear cartel want prices to fall or not, IT JUST HAS NOT FALLEN PASTING CHARCOAL ON WISEMAN'S SHAMELESS FACE.
                Now there are hundreds of 10paise PITHCAKARANS who want to own the world overnight. So I dont think prices will fall just to please them.
                ABK, your views are very balanced.

                Comment

                • #18

                  #18

                  Re : Property price in Alwarthirunagar, Valasaravakkam

                  Originally posted by Natarajg007 View Post
                  KS, it is surprising that you are being so ILLOGICAL. Prices as you know and have even mentioned is a function of demand and supply. Unlike Sethugm who is a crazy bear who probably has 10 paise and wants a 10crore property to fall to 10p JUST FOR HIM TO BUY, I dont know why you are so Illogical.
                  The truth is prices will fall if the demand drops and supply increases. In Chennai supply is controlled by strong hands. Demand has hardly dropped. Only those who wanted to buy DESPERATELY have sort of pulled off.
                  Infact in Chennai and Bangalore PRICES HAVE JUST NOT FALLEN. So will it fall is a matter of conjecture.
                  All I can say is whether Wiseman and his bear cartel want prices to fall or not, IT JUST HAS NOT FALLEN PASTING CHARCOAL ON WISEMAN'S SHAMELESS FACE.
                  Now there are hundreds of 10paise PITHCAKARANS who want to own the world overnight. So I dont think prices will fall just to please them.
                  ABK, your views are very balanced.
                  I think i have to agree with "Natraj the broker" this time. As he mentioned, i do not see any huge price drop as of yet. People are still holding their properties in order to get the unimaginable price.

                  On the demand side, i think Nataraj is wrong with his analysis. Yes still there is a huge demand for plots and flats. But ground reality is, no one is buying now. Why? Because they are waiting for price drop. When the price fall, then this waiting can be converted into huge demand.

                  Buyers think the prices are so high and it should come down. Sellers are waiting for these buyers and at the same time they think they can get the price what they wanted.

                  Buyers and sellers are just waiting. I don't know how long this waiting period would last. If buyers wait for too long, then obviously it would bring down the price. So price drop is in buyers hand.

                  Comment

                  • #19

                    #19

                    Re : Property price in Alwarthirunagar, Valasaravakkam

                    Originally posted by Natarajg007 View Post
                    KS, it is surprising that you are being so ILLOGICAL. Prices as you know and have even mentioned is a function of demand and supply. Unlike Sethugm who is a crazy bear who probably has 10 paise and wants a 10crore property to fall to 10p JUST FOR HIM TO BUY, I dont know why you are so Illogical.
                    The truth is prices will fall if the demand drops and supply increases. In Chennai supply is controlled by strong hands. Demand has hardly dropped. Only those who wanted to buy DESPERATELY have sort of pulled off.
                    Infact in Chennai and Bangalore PRICES HAVE JUST NOT FALLEN. So will it fall is a matter of conjecture.
                    All I can say is whether Wiseman and his bear cartel want prices to fall or not, IT JUST HAS NOT FALLEN PASTING CHARCOAL ON WISEMAN'S SHAMELESS FACE.
                    Now there are hundreds of 10paise PITHCAKARANS who want to own the world overnight. So I dont think prices will fall just to please them.
                    ABK, your views are very balanced.
                    Hope you eat food ...

                    Comment

                    • #20

                      #20

                      Re : Property price in Alwarthirunagar, Valasaravakkam

                      Originally posted by Natarajg007 View Post
                      KS, it is surprising that you are being so ILLOGICAL. Prices as you know and have even mentioned is a function of demand and supply. Unlike Sethugm who is a crazy bear who probably has 10 paise and wants a 10crore property to fall to 10p JUST FOR HIM TO BUY, I dont know why you are so Illogical.
                      The truth is prices will fall if the demand drops and supply increases. In Chennai supply is controlled by strong hands. Demand has hardly dropped. Only those who wanted to buy DESPERATELY have sort of pulled off.
                      Infact in Chennai and Bangalore PRICES HAVE JUST NOT FALLEN. So will it fall is a matter of conjecture.
                      All I can say is whether Wiseman and his bear cartel want prices to fall or not, IT JUST HAS NOT FALLEN PASTING CHARCOAL ON WISEMAN'S SHAMELESS FACE.
                      Now there are hundreds of 10paise PITHCAKARANS who want to own the world overnight. So I dont think prices will fall just to please them.
                      ABK, your views are very balanced.
                      Hope you eat food but reading your postings does not seem so.

                      Comment

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